Coinbase, the largest U.S. Bitcoin exchange, has initiated exploratory conversations with financial regulators regarding banking licenses.
Coinbase believes that the digital currency market is rapidly maturing as the number of financial institutions entering the market continues to increase. As a result, and to better serve these institutions, the company is determined to advance and expand its portfolio of cryptocurrency-based financial instruments.
Coinbase is a profitable company. It values itself at about USD 8 billion. Additionally, its business expansion strategy, which now aims at participating in the banking industry, confirms its optimism about the future of the crypto industry.
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What do you think will be the impact on the cryptocurrency market if crypto companies become part of the banking industry? Let us know in the comment section below.